Six differences between Bitcoin's 2019 rally and 2017 rally

According to analysts, the current rally of the number one cryptocurrency will be able to revive the market of digital assets. At the moment, Bitcoin is trading near $12,600, and it is not going to slow down. At the end of 2017, the digital currency reached its peak of $20,000. In this article, you can find out what six differences between the current Bitcoin rally and the previous one have been recorded by experts

A key characteristic of the previous Bitcoin's rally was a high degree of interest from investors. This is not the case for the current rally. In November 2017, the relative index of the Bitcoin query was 36. In June 2019, it did not exceed 12 that is three times less than the previous value. This indicator is used to monitor interest in Bitcoin and determine the requirement volume for the number one digital currency.

The difference between the current rally and the events of 2017 in the cryptocurrency market can be clearly seen from the search query “how to buy bitcoin”. Unfortunately, the situation is not in favor of the leading digital asset. This indicator reflects the general interest of users in Bitcoin and shows the approximate number of new investors. In November 2017, the index stood at 41, while in June 2019, it was equal to only 5, eight times below the previous value.

This indicator reflects the number of active network subscribers. In November 2017, their number achieved 1.15 million. Despite the replicated success of two years ago, only 875 thousand users have turned out to be active this week. This is 24% less than that of two years earlier.

This indicator is great for determining the network state. It shows whether a network with transaction requirements is overloaded, as miners are more likely to use transactions with a higher commission. In November 2017, the average commission fee per transaction was $6.5 compared to the current value of $2.3. At the moment, there are no signs of overload. Therefore, there is no high demand for the digital asset.

The reduction in the average and median transaction sizes in the Bitcoin network shows a decline in interest in the cryptocurrency market. At the moment, the average transaction size is 0.82 BTC, whereas it was 2.2 BTC in November 2017. Two years ago, the median size amounted to 0.012 versus 0.007 as of the current date.